And custom format makes transfering same model material to another environment harder. Firm spends $$$ and workhours to create content, they do not want to see that content in homebrew games next day after their product release.
Though I think universal format to m3 is legal while m3 to universal format has its issues. By the way some people like me are seldomly working on porting 3ds Max maxscript (mxs) script to another format, it takes time and with few project members it is mostly hobby.
EDIT: Blender importer script does exist (for Blender 2.59?), it can convert m3 to blend file. Though there is not blender file to m3 converter aka exporter.
If I remember correctly it comes with Blender vanilla, it needs to be enabled from add-ons in Blender IO menu.
And custom format makes transfering same model material to another environment harder. Firm spends $$$ and workhours to create content, they do not want to see that content in homebrew games next day after their product release. Though I think universal format to m3 is legal while m3 to universal format has its issues. By the way some people like me are seldomly working on porting 3ds Max maxscript (mxs) script to another format, it takes time and with few project members it is mostly hobby.
EDIT: Blender importer script does exist (for Blender 2.59?), it can convert m3 to blend file. Though there is not blender file to m3 converter aka exporter. If I remember correctly it comes with Blender vanilla, it needs to be enabled from add-ons in Blender IO menu.